Mockingbird Terrace Land Offering

MOCKINGBIRD TERRACE LAND OFFERING

BROKER INFORMATION

LEAD AGENTS

Tim VanWingerden

Associate Louisville D. 513.878.7750 tim.vanwingerden@marcusmillichap.com

Jordan Dickman

First Vice President Investments

Cincinnati Office D. 513.878.7735 jordan.dickman@marcusmillichap.com

Nicholas Andrews

First Vice President Investments

Cincinnati Office D. 513.878.7741 nicholas.andrews@marcusmillichap.com

David Badgett Jr.

Vice President of Investments

Louisville Office D. 502.329.5999 david.badgett@marcusmillichap.com

Ted Spegal

Associate Louisville Office D. 502.329.5959 ted.spegal@marcusmillichap.com Austin Sum Senior Associate Cincinnati Office D. 513.878.7747 austin.sum@marcusmillichap.com

NON-ENDORSEMENT

& DISCLAIMER NOTICE

CONFIDENTIALITY DISCLAIMER

THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

NON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

INVESTMENT OVERVIEW

THE OPPORTUNITY

- utilities are currently on-site and can support the additional load. - Includes backup generator rated for both buildings

- 14 garages already constructed - Land is cleared, level, and ready for construction - Approved Building and Site plans included in offering: - Architectural and Structural Set - Civil Set: Construction Set Landscape and Tree Preservation Plan Sanitary Plans - Mechanical, Electrical and Plumbing (MEP) Set

EXISTING PHASE I

LOCAL AMENITIES

LOCATION OVERVIEW

SITE READY FOR PHASE II

CONDO GARAGE ENTRANCE

ENTRANCE DRIVEWAY

UTILITIES

RECENT

1409 Mockingbird Terrace Dr 401 1618 10/29/2020 $370,000 $229

1409 Mockingbird Terrace Dr 405 1528 4/22/2021 $382,000 $250

1409 Mockingbird Terrace Dr 303 1809 7/7/2022 $505,000 $279

1409 Mockingbird Terrace Dr 203 1809 5/11/2022 $485,000 $268

1409 Mockingbird Terrace Dr 204 1825 3/20/2022 $475,000 $260

1409 Mockingbird Terrace Dr 105 1473 12/15/2021 $315,000 $214

1409 Mockingbird Terrace Dr 101 1449 11/22/2021 $310,000 $214

1409 Mockingbird Terrace Dr 503 1809 10/24/2021 $565,000 $312 1409 Mockingbird Terrace Dr 505 1528 10/20/2021 $392,000 $257

CONDO INTERIORS

CONDO INTERIORS

COMMON AREA

LOUISVILLE, KY

Situated on the banks of the Ohio River, Louisville is a progressive community of 1.3 million people. Louisville is one of the most uniquely authentic destinations in the world. It is Kentucky’s largest city and offers hundreds of one-of-a-kind attractions. Whether you are north, south, east, or west – Louisville offers a slew of attractions and historic architecture in every direction. Three of the state’s six Fortune 500 companies call Louis ville home – Humana, Kindred Health, and Yum! Brands.

The area provides an attractive business environment for companies due to its location and low cost of doing business, while allowing employees to enjoy a relatively affordable place to live. The economy has transitioned from traditional manufacturing and shipping to health

care, tourism, and technology. Tourism in the state of Kentucky has a $3.5 billion economic impact from Lou isville alone. While the economic impact is very signif icant, the results are even more so, as they positively affect the quality of life in Louisville. Through maintaining its commitment to the tourism industry, Louisville can enrich and nurture its infrastructure, allowing it to consistently rank as one of the top cities in the nation for quality of life. Foodies and food trucks, brew mas ters and bourbon, sports, tradition, and transforma tion - it’s all happening in Louisville. With such a vibrant quality of life, Louisville is a great place to call home.

Amazon officials told the Louisville metro planning commission during an early November meeting that it plans to establish the facility in a 142,000 -square-foot office and warehouse, with heavy truck loading and unloading areas, at 1231 durrett lane near preston highway. Last mile facilities refer to the final step of the delivery process from a distribution center or facility to a user and are becoming increasingly popular in the U.S. as the demand for faster delivery grows.

EMPLOYERS IN THE NEWS

• Amazon building new $5.5M Last-mile delivery station at prime Louisville property adding close to 2,000 new jobs (March 2021)

• GE Appliances completes $60M expansion adding 245 new jobs (July 2021)

• GE Appliances set to invest $450M at its appliance park in the next 2 years adding over 2,000 new jobs (Oct 2021)

• QSR Automations opens new global headquarters in Louisville, KY (Nov 2021)

• KCC Manufacturing break ground on 700-Job operation in Shelby County (Nov 2021)

• Republic National Distributing Co. breaks ground on a relocation and expansion project that will create 30 full time jobs with a $50 million investment (Sep 2021)

• Baptist Health to build $42M rehabilitation hospital in Jeffersontown (Nov 2021)

Population: 1,300,000

Median age: 39.2

ECONOMY

• Prior to the pandemic, Louisville/Jef ferson County’s real gross metropolitan product grew at an average annual rate of 2.0% from 2015 to 2019. During that same five-year period, job growth averaged 1.5% annually, with rough ly 9,800 jobs added on average each year.

• In 2020, COVID-19 mitigation mea sures and limited business activity caused the local economy to contract as much as 10.5% year-over-year in 2nd quarter. In the year-ending 3rd quarter 2021, the metro’s inflation-adjusted economic output expanded 4.6%.

• The metro recorded a net gain of 22,400 jobs, expanding the employ ment base 3.5%. As such, Louisville/Jef ferson County’s unemployment rate in August 2021 declined 2.2 points yearover-year to 3.4%, below the national

DEMOGRAPHICS: STATISTICS

average of 5.3%.

• During the past year, job gains in Lou isville/ Jefferson County were most pro nounced in the Trade/Transportation/ Utilities sector followed by Leisure/ Hospitality Services. Despite job losses stemming from the pandemic, Louisville/Jefferson County’s current employ ment base now sits roughly 54,900 jobs, or about 9% above the 1st quarter 2008 level, prior to the Great Recession. The relative resilience of the economy points to some insulation provided by recession-resistant economic anchors in the market, namely the University of Louisville.

SUPPLY & DEMAND

SUPPLY

• The level of new apartment completions in Louisville/ Jef ferson County were elevated, as 2,415 units delivered in the year-ending 3rd quarter 2021, the highest level in the mid1990s.

• That annual completion volume compares to a low of 945 units and the current high of 2,415 units over the past five years. Annual new supply averaged 1,734 units, and annual inventory growth averaged 2.0% over the past five years. Completions over the past year expanded the local inventory base 2.7%.

• Over the next year, inventory growth is set to remain around the current level with the scheduled addition of 2,241 units.

At the end of 3rd quarter 2021, there were 2,634 units under construction.

• New supply over the past five years has been concentrat ed in Northeast Louisville, Southwest Louisville, and Northwest Louisville, which received 68% of the market’s total comple tions collectively. Scheduled new deliveries in the coming year are expected to be concentrated in Northwest Louisville and Northeast Louisville.

OCCUPANCY

• Over the past year, occupancy gained 1.2 points, with the 3rd quarter 2021 rate landing at 96.4%.

• That occupancy rate ranked #52 among the 65 key South region markets and #130 among the top 150 markets nationally and was only the third time the market has topped 96% in more than 20 years.

• Looking at product classes in Louisville/Jefferson County, 3rd quarter 2021 occupancy was at 96.1 % in Class A units, 96.5% in Class B units and 96.6% in Class C units.

• Among submarkets, 3rd quarter 2021 occupancy was strongest in Northwest Louisville and South Central Louisville. The weakest readings were seen in Central Louisville and Southwest Louisville.

ATTRACTIONS

LOUISVILLE SLUGGER MUSEUM

Batter up! It takes a special place to craft the #1 Bat in Major League Baseball. At Louisville Slugger Museum & Factory, experience history-in-the-making as you stroll through the actual factory where world-famous Louisville Slugger bats are created. The award-winning fac tory tour is a highlight of the visit here, but there’s plenty more to enjoy along with it.

Admire the World’s Biggest Bat - stretching 120 feet into the sky. Hold bats actually used by baseball superstars like Mickey Mantle, Johnny Bench, Cal Ripken Jr. And Derek Jeter. Be sure to swing by!

EVAN WILLIAMS BOURBON

Located on Louisville’s historic “Whiskey Row”, the Evan Williams Bourbon Experience features an artisanal dis tillery, tours, educational tastings, and more!

In 1783, our namesake opened Kentucky’s First Distillery on the banks of the Ohio River. Many years and barrels later, we still produce Bourbon the right way, using the same time-honored methods.

THE BOURBON BUSINESS

The Banks is a gathering place for people all across the region. It provides a lively atmosphere full of attractions that promote public enjoyment and appreciation for city’s riverfront. Spanning the full width of the Central Business District, The Banks brings the waterfront to down town’s front door. Thriving off of the energy generated by the adjacent professional sports venues, Paul Brown Stadium to the west and Great American Ballpark to the east, The Banks provides life and energy as a premier live, work, and play district.

KENTUCKY DERBY

Located in South Louisville, Churchill Downs is a Thor oughbred racetrack known for hosting the annual Ken tucky Derby. It is the world’s most legendary racetrack. The first Kentucky Derby and Kentucky Oaks were both held in 1875, which was the year that the racetrack opened. The racetrack at Churchill Downs is 147 acres and features a seven-furlong turf racecourse and a one-mile dirt, oval racetrack. The racetrack can accommodate over 165,000 guests on Derby Day.

visit adgmultifamily.com to learn more.